Following the expiry of the 90-day notice period given by JSC Bank of Georgia (the Bank) to terminate the deposit agreement (the Deposit Agreement) in respect of all outstanding global depositary receipts (GDRs) in accordance with its terms, the Deposit Agreement has been terminated with effect from today.
Pursuant to the terms of the Deposit Agreement, holders of GDRs are required to pay a cancellation fee of US$0.05 per GDR in connection with the cancellation of the GDRs and the termination of the Deposit Agreement. The Bank will pay this fee on behalf of outstanding GDR holders.
Following the announcements by the Bank on 8 March 2012 and 1 May 2012 of its applications for the cancellation of the listing of the GDRs on the Official List and the cancellation of the admission of the GDRs to trading on the London Stock Exchange (the LSE) and the publication today of the relevant notices by the Financial Services Authority and the LSE, the Bank announces that the listing of all of its GDRs on the Official List and the admission of its GDRs to trading on the LSE have been cancelled with immediate effect.
Remaining GDR holders are referred to the notice provided by The Bank of New York Mellon (as Depositary) on 5 April 2012 regarding the consequences of cancellation and termination. The Depositary can be contacted on telephone number 1- 888-BNY-ADRS (1-888-269-2377) for further information in connection with this.
